Allen Gross, president and CEO of GFI Capital Resources Group, New York City, is now in a legal battle with Andrew Zobler, CEO of Sydell Group, New York City, after both partnered to develop Manhattan’s lifestyle hotels Ace Hotel and NoMad Hotel.
The Real Deal reported that Gross filed a lawsuit last week accusing Zobler of “not performed his duties” after becoming a sweat equity partner and that he sought to undermine Gross’ interests in their joint ventures after Zobler filed a lawsuit in February accusing Gross of excluding him from company affairs.